Veralto Corporation $VLTO Shares Newly Bought by Magnolia Group LLC

Magnolia Group LLC purchased a new position in Veralto Corporation (NYSE:VLTO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 42,000 shares of the company’s stock, valued at approximately $3,961,000. Veralto makes up 1.4% of Magnolia Group LLC’s investment portfolio, making the stock its 14th largest holding.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Highland Investment Advisors LLC acquired a new stake in Veralto during the second quarter valued at approximately $32,000. Provenance Wealth Advisors LLC raised its holdings in shares of Veralto by 997.4% in the 3rd quarter. Provenance Wealth Advisors LLC now owns 428 shares of the company’s stock worth $40,000 after buying an additional 389 shares in the last quarter. Putney Financial Group LLC acquired a new position in shares of Veralto in the 3rd quarter worth approximately $42,000. Latitude Advisors LLC acquired a new position in shares of Veralto in the 3rd quarter worth approximately $47,000. Finally, International Assets Investment Management LLC bought a new position in shares of Veralto during the 1st quarter worth approximately $66,000. Institutional investors own 91.28% of the company’s stock.

Veralto Price Performance

Shares of Veralto stock opened at $118.79 on Thursday. The company has a current ratio of 2.03, a quick ratio of 1.82 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $28.88 billion, a price-to-earnings ratio of 29.40, a P/E/G ratio of 3.28 and a beta of 0.51. Veralto Corporation has a 1-year low of $80.03 and a 1-year high of $119.03. The firm’s 50-day moving average price is $101.22 and its two-hundred day moving average price is $93.74.

Veralto (NYSE:VLTO) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.18 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.09. Veralto had a net margin of 17.27% and a return on equity of 35.08%. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same quarter last year, the business posted $0.99 earnings per share. The company’s revenue was up 7.5% on a year-over-year basis. On average, equities analysts predict that Veralto Corporation will post 4.51 earnings per share for the current fiscal year.

Veralto Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Wednesday, September 30th were given a dividend of $0.13 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.52 dividend on an annualized basis and a yield of 0.4%. Veralto’s dividend payout ratio is 12.87%.

Insiders Place Their Bets

In other news, SVP Surekha Trivedi sold 36,427 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $108.89, for a total transaction of $3,966,536.03. Following the sale, the senior vice president owned 8,565 shares in the company, valued at approximately $932,642.85. This represents a 80.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Mattias Byström sold 9,069 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $116.30, for a total transaction of $1,054,724.70. Following the completion of the sale, the senior vice president owned 35,536 shares of the company’s stock, valued at $4,132,836.80. The trade was a 20.33% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 55,094 shares of company stock valued at $6,032,688. Company insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on VLTO. Wolfe Research started coverage on Veralto in a research note on Tuesday, September 15th. They issued an “outperform” rating and a $125.00 price target on the stock. Citigroup increased their price objective on Veralto from $107.00 to $120.00 and gave the stock a “neutral” rating in a research note on Monday, November 2nd. BNP Paribas Exane reiterated an “outperform” rating and set a $120.00 price objective (up from $115.00) on shares of Veralto in a research note on Thursday, July 30th. Barclays lifted their price objective on Veralto from $117.00 to $129.00 and gave the company an “overweight” rating in a report on Monday, November 2nd. Finally, Jefferies Financial Group restated a “buy” rating and issued a $135.00 target price on shares of Veralto in a research note on Friday, October 30th. Seven analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $120.70.

Veralto Profile

Veralto Corporation is a global provider of water quality and product quality solutions. Its businesses develop technologies and services that help customers monitor and treat water, as well as ensure the quality, safety and consistency of products and packaging. Veralto operates through two segments: Water Quality and Product Quality & Innovation. Its offerings include water analysis, treatment and monitoring systems, and technologies for product coding and marking, packaging design, color management and print production.